$9.15 million for an upscale boutique hotel in Queenstown

The four-star boutique hotel for sale, Hurley's of Queenstown at 1 Melbourne St, offers accommodation options over three floors.  Rooms on the top floor offer lake or mountain views.

Provided

The four-star boutique hotel for sale, Hurley’s of Queenstown at 1 Melbourne St, offers accommodation options over three floors. Rooms on the top floor offer lake or mountain views.

The land, buildings and business supporting Hurley’s four-star boutique hotel in Queenstown are up for sale for $9.15 million.

The prominent Hurley’s Hotel of Queenstown features 22 accommodation suites, with rates ranging from $170 to $450 per night depending on the season.

It is located on the outskirts of Queenstown’s central business district at 1 Melbourne St, on the corner of State Highway 6A, the main route into and out of central Queenstown.

Built in 1999, the accommodation suites are spread over the three floors in a rectangular shaped block. Ground floor units have courtyards and first floor suites have balconies. All rooms on the upper floors have lake or mountain views.

There’s also the manager’s accommodation – a two-story, three-bedroom house with private parking and a courtyard as well as excellent views of the Remarkables mountain range.

The land and buildings, together with the rights to manage the accommodation business, are jointly marketed for $9.15 million plus GST (if applicable) through Bayleys Auckland and Bayleys Queenstown.

Seventeen of Hurley's 22 rooms are included in the sale.

Provided

Seventeen of Hurley’s 22 rooms are included in the sale.

Bayleys tourism division sellers Allister Simpson and Wayne Keene said 17 of Hurley’s 22 rooms were included in the sale, while the other five would continue to operate under a long-term management contract .

Keene said while the Hurley’s of Queenstown package was marketed as including the land, buildings and business, there was also the option of either buying the management rights for Hurley’s of Queenstown or buying the ownership titles. freehold unit of all 17 Hurley’s of Queenstown accommodations. units.

“The management rights come with a long contract in place until 2029 with two further 15-year renewal rights and a final expiration of 2059. As part of this dynamic, buyers would also acquire a 1 /23 of all common properties. All of Hurley’s 22 apartments are in the hotel’s rental pool and are classified as ‘permanently transient’,” Keene said.

“Alternatively, the 17 freehold unit titles can be purchased as real estate assets supporting a viable commercial lodging business.”

Simpson said the business owners of Hurley’s of Queenstown had built the accommodation entity to a position where it stood above comparative market levels in the Queenstown hotel accommodation industry.

“The business is able to effectively support a management structure or be managed under an owner-operator model. The room configuration provides accommodation options for the business and leisure travel sectors,” he said.

Configurations include two studios, eight premier studios, five executive studios, one honeymoon studio, one two-bedroom studio, and five two-bedroom apartments.

Facilities at the property include a 24/7 gym, a pair of Scandinavian-style saunas, a large drying room for ski gear and storage lockers for guest sports equipment .